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Digital Door Lock Systems Market Size

Report ID: GMI12269
Published Date: Nov 2024
Report Format: PDF

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Digital Door Lock Systems Market Size

The global digital door lock systems market was valued at USD 7.6 billion in 2023 and is estimated to grow at a CAGR of over 7.4% from 2024 & 2032. The digital door lock systems industry is growing due to increased demand for smart home security solutions. As urban crime rates rise, homeowners are prioritizing safety. Digital door locks, featuring biometric access, remote control, and activity monitoring, offer better security than traditional locks, making them a popular choice.

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Additionally, smart home automation also boosts the adoption of digital door locks. Integrating these locks with security cameras, alarms, and lighting systems creates a cohesive security network. The ability to control access via mobile apps, set lock/unlock schedules, and receive real-time notifications appeals to tech-savvy consumers. These systems are user-friendly and compatible with major smart home platforms, attracting more smart home users. Increased awareness of smart security options, driven by tech companies and home security brands, further drives demand. Marketing campaigns, product demos, and positive reviews educate consumers on the benefits of digital locks, building trust in these products.

Digital Door Lock Systems Market Report Attributes
Report Attribute	Details
Base Year:	2023
Digital Door Lock Systems Market Size in 2023:	USD 7.6 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	7.4%
2032 Value Projection:	USD 14.3 Billion
Historical Data for:	2021 - 2023
No. of Pages:	230
Tables, Charts & Figures:	83
Segments covered:	By Type, Access, Connectivity Technology, End users, Distribution Channel, Region
Growth Drivers:	Rising demand for smart home security solutions Increasing urbanization and infrastructure development Advancements in wireless connectivity and IoT integration
Pitfalls & Challenges:	High initial installation costs Cybersecurity and privacy concerns

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Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The global digital door lock systems industry was valued at USD 7.6 billion in 2023 and is estimated to grow at a CAGR of over 7.4% from 2024 to 2032, driven by the increased demand for smart home security solutions.

The deadbolt segment generated around USD 3.5 billion in revenue in 2023 and is expected to grow at a CAGR of 7.9% during the forecast period due to its security and reliability, especially in residential settings.

The U.S. digital door lock systems market accounted for approximately USD 2.5 billion in 2023 and is projected to grow at a CAGR of 7.8% during the forecast period, driven by the rising demand for smart home security and advanced access control.

Key players in the industry include Allegion plc, ASSA ABLOY AB, August Home, Inc., Bosch Security Systems GmbH, Control4 Corporation, Honeywell International Inc., IDEMIA Group, Johnson Controls International plc, Kwikset Corporation, and Latch, Inc.